Xanadu Produced the First Networked, Modular and Scalable Quantum Computer with their Aurora System in Early 20251First Pure Play Quantum Computing Company to Achieve Quantum Supremacy with their Borealis System in 2022 Xanadu’s PennyLane Software Offering is the #1 Quantum Programming Software with 47% Usage Among Quantum Programmers2Pro Forma Enterprise Value of the Combined Company is Expected to be Approximately US$3.1 Billion and Pro Forma Market Capitalization is Expected to be Approximately US$3.6 Bi ...

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $1,219,449, primarily from interest earned on cash and investments held in the Trust Account of $1,417,961, offset by formation and administrative costs of $198,512 [106]. - Cash used in operating activities from January 2, 2025, through June 30, 2025, amounted to $468,864, with net income of $1,159,136 affected by interest earned on investments [109]. Initial Public Offering - The company completed its Initial Public Offering on April 28, 2025, raising gross proceeds of $220,000,000 from the sale of 22,000,000 Units at $10.00 per Unit [107]. - The company incurred $13,786,773 in costs related to the Initial Public Offering, which included a cash underwriting fee of $4,400,000 and a deferred underwriting fee of $8,800,000 [108]. Trust Account and Investments - As of June 30, 2025, the company had cash and investments held in the Trust Account totaling $221,417,961, which includes approximately $1,417,961 of interest earnings [110]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds used for working capital and growth strategies [110]. Debt and Financing - The company does not have any long-term debt or capital lease obligations, but incurs a monthly fee of $20,000 for office space and administrative support [115]. - The company does not anticipate needing to raise additional funds for operating expenditures but may require additional financing to complete its Business Combination [113]. - Up to $2,500,000 of loans from the Sponsor or affiliates may be convertible into units at a price of $10.00 per unit, should the lender choose to do so [112]. - The company has not entered into any off-balance sheet financing arrangements or established special purpose entities as of June 30, 2025 [114].

Financial Position - As of March 31, 2025, Crane Harbor Acquisition Corp. reported total assets of $290,282, with total liabilities amounting to $325,716, resulting in a shareholder's deficit of $35,434[12][13]. - As of March 31, 2025, the Company had $14,599 in cash and a working capital deficit of $307,373[46]. - The Company has no long-term debt or off-balance sheet arrangements as of March 31, 2025[117]. - Cash balance as of March 31, 2025, was $14,599, indicating limited liquidity prior to the IPO[98]. IPO and Fundraising - The company raised gross proceeds of $220,000,000 from its Initial Public Offering (IPO) of 22,000,000 units at $10.00 per unit, which includes a partial exercise of the underwriters' over-allotment option[27]. - The Company completed its Initial Public Offering on April 28, 2025, selling 22,000,000 Units at a price of $10.00 per Unit, generating gross proceeds of $220,000,000[130]. - In addition to the IPO, Crane Harbor Acquisition Corp. completed a private placement of 640,000 units, generating gross proceeds of $6,400,000, also at $10.00 per unit[28]. - An additional 640,000 Private Placement Units were sold at $10.00 per Unit, generating gross proceeds of $6,400,000[111]. - Total transaction costs incurred during the IPO amounted to $13,786,773, which included a cash underwriting fee of $4,400,000 and a deferred underwriting fee of $8,800,000[132]. Business Operations - The company has not yet commenced operations and will not generate operating revenues until after completing its initial business combination[26]. - The Company does not expect to generate operating revenues until after the completion of its Business Combination[108]. - The Company plans to pursue a business combination with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the trust account[30]. - The Company intends to use substantially all funds held in the Trust Account to complete its Business Combination[113]. - The Company may need additional financing to complete its Business Combination or to address potential redemptions of Public Shares[116]. Shareholder Information - Public shareholders will have the opportunity to redeem their shares upon the completion of a business combination, regardless of their voting stance[33]. - The Company will redeem Public Shares at a per-share price equal to the aggregate amount in the Trust Account, including interest, if it fails to complete a Business Combination within the completion window[40]. - The Initial Shareholders will waive their liquidation rights regarding Founder Shares and private placement shares if the Company does not complete a Business Combination[42]. Financial Performance - The company incurred a net loss of $60,434 for the period from January 2, 2025, through March 31, 2025, with a basic and diluted net loss per share of Class B ordinary shares at $(0.01)[16]. - The Company had a net loss of $60,434 for the period from January 2, 2025 (inception) through March 31, 2025, primarily due to formation and general administrative costs[109]. - Net loss per ordinary share is calculated by dividing net loss by the weighted average number of ordinary shares outstanding, with no dilutive securities as of March 31, 2025[66]. Regulatory and Compliance - The Company is classified as an "emerging growth company" and may take advantage of certain exemptions from reporting requirements[48]. - The Company has registration rights for holders of Founder Shares and Private Placement Units, allowing them to demand registration of their securities[81]. - The company did not have any critical accounting estimates to disclose as of March 31, 2025[121]. - There have been no material changes to the risk factors disclosed in the final prospectus for the IPO[128]. - The company has not faced any legal proceedings as of the date of the report[128]. - The company’s disclosure controls and procedures were deemed effective as of the end of the quarterly period ended March 31, 2025[124]. - There were no changes in internal control over financial reporting during the fiscal quarter that materially affected the company's financial reporting[125]. Trust Account Management - The company has a trust account holding $220,000,000 from the IPO proceeds, which will be invested in U.S. government securities until the completion of a business combination[31]. - The Company will seek to protect the Trust Account by having vendors and service providers waive any claims to the funds held therein[42]. - An aggregate of $220,000,000 from the IPO proceeds was placed in the Trust Account[132]. Other Financial Information - The Company has sufficient funds for working capital needs for at least one year from the date of the financial statements[46]. - The Company does not anticipate needing to raise additional funds for operating expenditures prior to the initial Business Combination[47]. - The fair value of the Company's financial instruments approximates their carrying amounts due to their short-term nature[55]. - The Company has authorized 500,000,000 Class A ordinary shares, with none issued or outstanding as of March 31, 2025[89]. - The Company has authorized 5,000,000 preference shares, with none issued or outstanding as of March 31, 2025[89]. - The Company has a commitment to reimburse the Sponsor $20,000 per month for administrative support services starting April 25, 2025[80]. - The Chief Operating Decision Maker (CODM) has identified only one reportable segment for performance assessment[97]. - The Company had no unrecognized tax benefits or amounts accrued for interest and penalties as of March 31, 2025[59]. Geopolitical Risks - The geopolitical instability from the Russia-Ukraine conflict and the Israel-Hamas conflict may adversely affect the Company's search for an initial Business Combination[86].